A loan of $1,025 helped to buy clothing [for resale].


Malik's story

Mr. Malik is 37 years old, married and the father of four. He lives with his family in Sanoubougou I, a working-class district in the city of Sikasso (the third administrative region of Mali). Mr. Malik has been working as a vendor of ready-to-wear clothing for 14 years. He went into this line of work after having unsuccessfully tried several other types of business. Given the growth of his customer base, thanks to the high quality of goods, and lack of own funds needed to meet customer demand, he has found it useful to join the microfinance institution Soro Yiriwaso. Having duly repaid three prior individual loans, he is now requesting his fourth loan.

With this fourth loan, he plans to buy 15 different shirts, 20 pants of various quality grades, 18 pairs of shoes of different brands (Soulier, Ferradine etc), five suits, 15 T-shirts and 10 sets of underwear.
He stocks up in Bamako and then resells in his store located in the middle of the Sikasso bus station, to a customer base composed mainly of travelers and drivers. With this loan, he plans to achieve an average monthly income of 100,000 West African Francs, which will allow him to bolster his working capital, honor his obligations to Soro Yiriwaso and provide for some family needs.

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Translated from French by Kiva volunteer Katharina S



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